Common use of Conveyance on Closing Clause in Contracts

Conveyance on Closing. If TOGI exercises and closes the Option, Owner shall execute and deliver to TOGI a conveyance of the Property in the form of Exhibit B attached to and by this reference incorporated in this Agreement. On the closing of the Option, the parties shall complete the conveyance by (a) inserting the description of all of the unpatented mining claims which comprise the Property on closing of the Option; (b) inserting the Royalty percentage rates which shall be taken from Section 4.2 of this Agreement, unless on exercise of the Option TOGI exercises and closes the Royalty Option, in which case the Royalty percentage rates as reduced shall be inserted in the conveyance; and (c) inserting the schedule of Minimum Payments applicable after the closing of the Option. The execution, delivery and recording of the conveyance shall not constitute a merger of TOGI's obligations under this Agreement which shall survive the closing of the Option, specifically, the obligations expressly stated in the conveyance and TOGI's obligations which accrue, but are not fully performed, before the closing of the Option, including the obligations under Sections 4.1, 6, 7.3, 9, 10, 11, 12, 13 and 22 of this Agreement. Owner and TOGI shall execute and deliver such other written assurances and instruments as are reasonably necessary for the purpose of closing the purchase of the Property.